After the falling knife, a new equilibrium -- below the crippling oil prices of the last decade.

From "considerable time" to "patient." It doesn't matter -- lift-off is still on for mid-year.

This Greek crisis is not a euro crisis. And sovereign bond purchases will make sure of it.

Break up the BRICs -- BR losers, IC winners. Abe gets a do-over, and the EA gets QE.

We won the oil lottery in 2014. In 2015, we cash in the ticket. We expect a good year.

A 10-year yield below 2% doesn't imply a blow to growth, nor monetary deflation.

The best December in this business cycle -- but not 1999. The Fed can be "patient" until June.

Cheap oil is the new consensus. Supply and demand responses will surprise on the upside.

With national central banks buying their countries' own debt, the Germans can't screw it up.

Draghi had to end a crisis in 2012 after SYRIZA lost. This time it won, but Draghi acted first.